India, Feb. 21 -- Crypto markets rallied overnight amidst concerns about the labor market raised by a Fed official. The concurrent easing in bond yields eclipsed the dollar's overnight surge and helped cryptocurrency market capitalization record a gain of more than a percent in the past 24 hours.
Raphael Bostic, President and Chief Executive Officer of the Federal Reserve Bank of Atlanta on Wednesday placed on record his concerns about potential vulnerabilities in the labor market.
Though Bostic viewed the employment outlook as stable, he acknowledged that signs of slowing are accumulating. Relying on data from the U.S. Bureau of Labor Statistics. he cited the lower probabilities for unemployed workers to find jobs and the longer average ...